LONDON–(BUSINESS WIRE)–Jul 29, 2019–
The toys market in Europe is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled toys market in Europe 2019-2023. (Graphic: Business Wire)
Several safety and health issues are associated with the raw materials used to manufacture toys. Therefore, parents and educators opt for toys made of eco-friendly materials. Hence, vendors are also seen focusing on the development of sustainable products. For instance, 4M Industrial Development Ltd. offers eco-friendly toys, which are made without the use of glue, screws, and tapes. The shift in the preference for green toys is one of the major factors that are prompting the vendors to introduce eco-friendly toys. Thus, the introduction of green toys in Europe is expected to increase the demand for toys in the region during the forecast period.
As per Technavio, the increasing marketing initiatives will have a positive impact on the market and contribute to its growth significantly over the forecast period. This toys market in Europe 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Toys Market in Europe: Increasing marketing initiatives
Currently, vendors in the toys market in Europe are following integrated marketing communication using newspapers, magazines, and social media to sell their products. For instance, in October 2016, Ravensburger advertised its products before Christmas, with both TV and online media campaigns. The TV campaign was followed by a marketing campaign, which included Internet pre-roll, a wide-reaching social media and blogging program, and an interactive website. Similarly, social media is an intrinsic part of LEGO’s marketing strategy, with visual content being a key medium to drive engagement and foster a sense of an online community. The company posts a variety of creative content on its Instagram channel, with a focus on inspiring parents while educating and entertaining youngsters. Thus, such marketing initiatives are expected to boost market growth during the forecast period.
“Apart from the increasing marketing initiatives, an increase in the number of strategic alliances, expansion of the product portfolio leading to product premiumization, and the presence of toy gifting culture are some other major factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Toys Market in Europe: Segmentation analysis
This market research report segments the toys market in Europe by product (construction or activity toys, action figures, and accessories; soft or plush toys, dolls, and accessories; outdoor, sport and model vehicle toys; games and puzzles, infant and preschool toys, and other products), by distribution channels (specialty stores, E-retailers, hypermarkets, supermarkets, convenience stores, and clubhouse stores, and department stores) and geographical regions (UK, France, Germany, Italy, ROE).
The UK led the market in 2018, followed by France, Germany, Italy, and ROE, respectively. However, during the forecast period, Germany is expected to register the highest incremental growth due to the high disposable income and the presence of global and local vendors in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 07/29/2019 12:00 PM/DISC: 07/29/2019 12:01 PM
Copyright Business Wire 2019.